Revision Test: The Global Economy Marking Guidelines Multiple Choice Answers
1
2
3
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8
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10
C
D
B
D
B
A
C
D
C
D
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20
D
A
B
B
D
A
D
C
B
21(10 marks) a)Explain the purpose of the Human Development Index
Comment
Mark
Accurate purpose ie to compare standard of living between countries using a range of criteria
2
Approximate answer
b)Assess the impact on the global economy of an international organisation
Comment
Mark
Name and accurately describe its impact
2
Approximate answer
1
c)
2
Identify TWO impacts of globalisation on an economy other than Australia
Comment
Mark
Accurate identification of impacts eg increase in trade, pollution, higher standard of living applied to that country
2
Approximate answer
1
d)
4
Discuss the effectiveness of ONE government policy in the development of an economy other than Australia
Comment
Mark
Effective discussion of government policy including statistics eg interest rates, labour reform, taxation policy
3-4
Vague policy description, with limited dicussion
1-2
Question 22 (10 marks) The diagram shows the world market for a commodity after the introduction of a subsidy by a country which is a major world producer. (a) Explain why the supply curve shifts from S1 to S2 after the subsidy has been introduced. (2 marks)
Comment
Mark
Accurate explanation covering lowering of costs due to subsidy
2
Limited response
1
(b) With reference to the diagram, analyse the impact of the subsidy on producers in countries where the subsidy has not been introduced. (4 marks)
Comment
Mark
Uses the graph to analyse the effects such as reduction in revenue, reduction in profit, reduced employment, possible loss of business
3-4
Limited analysis and/or use of diagram
1-2
(c) Explain TWO benefits associated with a reduction in global protectionist policies. (4 marks)
Comment
Mark
Explains in depth two benefits eg increased range of goods, lower prices, higher standard of living
Marking Guidelines
Multiple Choice Answers
21 (10 marks)
a) Explain the purpose of the Human Development Index
using a range of criteria
b) Assess the impact on the global economy of an international organisation
c)
Identify TWO impacts of globalisation on an economy other than Australia
higher standard of living applied to that country
d)
Discuss the effectiveness of ONE government policy in the development of an economy other than Australia
Question 22 (10 marks)
The diagram shows the world market for a commodity after the introduction of a
subsidy by a country which is a major world producer.
(a) Explain why the supply curve shifts from S1 to S2 after the subsidy has been
introduced. (2 marks)
(b) With reference to the diagram, analyse the impact of the subsidy on producers
in countries where the subsidy has not been introduced. (4 marks)
(c) Explain TWO benefits associated with a reduction in global protectionist policies. (4 marks)
prices, higher standard of living